The Government has been urged to reconsider its sale of Bord Gáis Energy following reports that bids submitted by interested companies have been lower than expected.
Fianna Fáil TD Michael Moynihan said there was no justification for “dumping a well-run and valuable State asset at fire sale prices” and said the sale process should be halted until a better price is secured.
However Minister for Communications, Energy and Natural Resources Pat Rabbitte rejected the call and said claims about the eventual sale price of BGE were no more than rumour.
Mr Rabbitte also branded Fianna Fáil’s call as hypocritical, saying that State assets were being sold under the terms of the previous Government’s bailout agreement.
The minister said the legislative changes required to allow for the sale of BGE were currently being put through the Oireachtas, and he expected the future owner of the company to “grow that business in the years ahead and will bring further competition to the energy market.”